Citigroup clients reject “Plutocracy” as insufficiently majestic. Wish to be referred to as “Jupitocracy”.
Below is the text of a recent Citigroup memo:
This memo is regarding our industry note of October 16, 2005 in which we discussed the emerging plutonomy in the US, UK and Canada. We have received some feedback recently from many of our more prestigious clients who want us to discontinue the use of the terms “plutonomy” and “plutocracy”. They reject it for many reasons but a common criticism is that the prefix “Pluto-” lacks sufficient majesty as a descriptor. In the 20th century we saw the degradation of Pluto from the Roman God of the Underworld to the Disney cartoon dog (a slavish, drooling mute). More recently, we have seen the downgrading of the former planet Pluto, which is now referred to as a “dwarf planet” or as the number 134340 (which has connotations that could remind members of the Jealous Class of numbered bank accounts in Switzerland, Cayman Islands, etc.). Our clients rightly point out that even before this celestial downgrade Pluto was always the smallest planet in the solar system (the cold, barren nature of Pluto did not surface as an issue). Our clients reject the idea forwarded by our marketing department that the changing connotations of “Pluto” may be useful as a means of putting a less-threatening face on the idea of a country, or planet, governed by the rich. There is no need, they believe, for marketing themselves with this kind of undignified deception. A recent poll indicates that our prestigious clients prefer the term Jupitocracy. Jupiter is the largest planet. In Roman mythology, Jupiter is king of Gods, which is a dramatic step up from God of the Underworld. The eye of Jupiter is also reminiscent of the burning eye of Sauron and the firing point of the Death Star. Please have all Citigroup employees replace the terms “plutocracy” and “plutonomy” with “Jupitocracy” and “Jupitonomy” forthwith.